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[QUOTE=capsfloyd
I am middle income America , 28 cents of every dollar I make goes to our government . [/QUOTE]

Not to pick a fight with you at all, capsfloyd, that's not my intent, okay? It's just that you reminded me of an interesting exercise.

Try this to figure out what you REALLY pay in federal taxes: Take your ACTUAL TAX BILL for the year, not the amount of withholdings or estimated taxes pre-paid, but your ACTUAL total tax that is calculated on the back of your 1040. Now, divide INTO that number your total gross HOUSEHOLD income, not your adjusted gross, not your reported income, but your REAL, honest-to-God total income from all sources. The resulting fraction will give you the exact amount, as a percentage of your income that you ACTUALLY paid in taxes to Uncle Sam. IMO, this is something every citizen should do at least once for a baseline, as it is rock-solid information about every working person's first and most basic expense - taxes.

Most folks are amazed that even though they believe they are in a 28% or higher 'tax bracket', they are only paying about 10% to 14% in actual taxes to the Fed. This will generate some flak, no doubt, but I hope some of you folks will give it a go. Some of you might become a little more enlightened about one's "heavy" tax burden. BTW, I don't like taxes (or stupid government giveaways) any more than anyone else in this thread, and I use every legitimate deduction I can! Try it.... I think you'll be surprised.... Whadaya have to lose?

Is it true: This is a somewhat complex question, and the answer is different for different posters in the thread.

The precise answer, For those who read the article with an open mind and who understand it is YES.

However many in this thread have not done the required reading and/or have minds like a steel trap..... Rusted shut... (This is not to accuse anyone, but those are the only two options,, Given a choice I listed them in the order of suspicision.. I think they did nto do the needed reading.. I did not till the 3rd time I read the thread, but that was BEFORE I posted).

Now I am mean spirited because somebody called me a hater for not wanting to pay the healthcare for the freeloaders. I do know that $1,999,999 is more that $200,000 though. Why don't you give this name calling a rest? It accomplishes nothing.

Sir....you are no doubt a highly successful individual with an adjusted gross income greater than $250,000 annually. As you know this puts you in the top 3% of all Americans! In addition, you have clearly been an astute real estate investor since, in this very difficult time, you are confident that you will need to pay 3.8% on anything "OVER your PROFIT" of $250,000 or $500,000 (if you are married) when you sell this investment.

With all due respect, I was unaware that the Affordable Health Care Plan (AHCP) was intended to provide healthcare to "freeloaders". While I readily admit, there will always be the unscrupulous who take advantage of any program, it was my understanding that the plan was intended to provide affordable healthcare to millions of the uninsured "working poor", people denied coverage due to pre-existing conditions, young adults excluded from their family insurance, prescription drug benefits for seniors, additional benefits for people with disabilities, preventive health care for women & families....& ..... ****compel "freeloaders" to purchase insurance so that healthcare costs could be more fairly spread across a larger base.

Regardless, I fully respect that you have your reasons for not wanting to contribute anything to this plan. If you are concerned that some of your Long Term Capital Gains may be taxed for this purpose, why do you not simply consult with your tax accountant & lawyer and take advantage of legitimate shelters within the tax code...a 1031 Exchange .....for example?

I got suckered into putting money away in a 401K. I managed it in a way that it did gain in value. I planned to pay 15% capitol gains tax on withdrawls plus income tax on the base. Obamas plan is to raise cap gains tax to 30% which will wipe out any gain I made. Should have just spent it on booz and loose women when I was young. I have a question?? He keeps saying everyone must buy health care or be taxed. Are those that are now on the dole and using the emergency rooms for doctor visits going to pay for health insurance. I don't think so. So the hard working middle class that saved for the future get SCREWED again by the democrats. The idiot in chief also wants to tax, municipal bonds which are now tax free. They earn low intrest because they are tax free and are the capitol that agencies like water districts use to operate. Taxing muni bonds will be a financial disaster for municipal organizations that we all rely on. The man and all of his advisors are just plain STUPID.

Good news....I think you can relax! Unless you are planning to withdraw more than $1,000,000 annually, as capital gains, from your 401K ....not your problem! You are referring to the Buffet Rule which was designed to address the fact that many high net worth individuals have the ability to take annual income in excess of $1,000,000 in the form of Capital Gains, rather than ordinary earned income and pay 15%, while ordinary working people are paying taxes on earned income wages at much higher rates. On the other hand, if you are earning income of more than $200,000 annually, he is proposing to raise Capital Gains rates from 15% to 20%. Are you in this top 3% of earners and also withdrawing sizable LTCG income?

You can relax on the muni bond thing as well.....his proposal is to curb the amount of interest from muni bonds that couples earning more than $250,000 annually can exclude from their taxable income. The proposal is to trim the tax exempt interest from 35% to 28%. With top-rated 10yr muni bonds paying interest at around 2% .....I wouldn't loose too much sleep over this one, I think municipalities will find ways to go bankrupt with or without your investments!